Sammaan Capital Limited successfully allotted 75,000 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs), totaling INR 750 Crore, on a private placement basis on March 30, 2026. These NCDs carry a 9.75% p.a. Fixed Rate payable annually, with a tenor of approximately 1.01 Years, maturing on April 03, 2027. The instruments are secured via hypothecation with a minimum asset cover of one time.
Private Placement of Non-Convertible Debentures
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has completed the allotment of Secured, Rated, Listed, Taxable, Redeemable, Fully Paid-up Non-Convertible Debentures (NCDs) via private placement. The total issue size amounted to INR 750,00,00,000 (Rupees Seven Hundred Fifty Crore only), comprising 75,000 NCDs with a face value of INR 1,00,000 each.
Key Issuance Details
The allotment date was March 30, 2026. The securities will be listed on both the National Stock Exchange of India Limited and BSE Limited. The instruments are designated with ISINs INE148107SY1 (Permanent) and IN8148107059 (Temporary) for the Re-Issuance.
Tenor and Maturity
- The original tenor was 3 Years.
- The tenor for this Re-Issuance is 1.01 Years (369 days).
- The Date of Maturity for these NCDs is set for April 03, 2027.
Coupon Rate and Security
The Coupon Rate is fixed at 9.75% p.a., payable Annually. The interest payment frequency is annual, commencing from the deemed date of allotment and continuing until maturity.
Security for the NCDs is established through a charge by way of hypothecation over the Company’s present and future financial and non-financial assets (including investments and loan assets), excluding specified High Quality Liquid Assets (HQLA). This charge is secured on a first pari-passu basis with all other existing secured lenders.
The NCDs are mandated to maintain a minimum asset/security cover of one point zero (1.0) time of the principal amount and interest thereon.
Default Provisions
In the event of a default in the timely payment of interest or principal redemption, the Company is liable to pay additional interest of at least @ 2% p.a. over the coupon rate for the defaulting period.
Illustrative Cash Flows Summary
The cash flow structure indicates two principal payment events based on the face value of INR 1,00,000:
- On March 30, 2026: A combined Principal + Accrued Interest payment of 100615.2384.
- On April 03, 2027 (Maturity): A combined Coupon + Principal payment of 109723.2900 over 364 days.
The redemption of debentures is scheduled for the Redemption Date: 03 April 2027. There are No details regarding the redemption of preference shares as these instruments are N.A. for this issuance.
Source: BSE
